The game of poker has enjoyed a resurgence in popularity since the early 2000's when televised poker tournaments such as the World Series of Poker greatly increased exposure to the game. The increased interest in poker has led to larger numbers of entrants and prize pools for poker tournaments and the ability to participate in internet-based poker games and tournaments.
In an internet-based poker game, players generally obtain virtual currency for use in the poker game by transferring legal currency over a financial network in exchange for the virtual currency. Due to gambling regulations, however, only limited jurisdictions allow players to “cash out” or monetize their virtual currency winnings from internet-based poker games. Similarly, gaming companies are very limited in their ability to award prizes to players in an internet-based poker tournament.
U.S. Patent Application Publication 2012/0015715 to Michael Arieh Luxton et al. (hereinafter, “Luxton et al.”), titled “VIRTUAL PLAYING CHIPS IN A MULTIUSER ONLINE GAME NETWORK” published Jan. 19, 2012, and is incorporated herein by reference. Luxton et al. describe methods, systems, and computer programs for executing game transactions in an online game to acquire virtual currency. One method includes an operation for detecting a request from a player to purchase virtual currency for use in the online game. Cash or credit is received, in an online transaction, to make the purchase of the virtual currency. The virtual currency of the online game is not redeemable for cash or credit so the virtual currency cannot be considered gambling proceeds. The method further includes an operation for crediting the player with an amount of virtual currency based on the amount of the received cash or credit.
U.S. Patent Application Publication 2014/0006505 to Rama Rao et al. (hereinafter, “Rao et al.”), titled “SOCIAL NETWORK DATA ANALYSIS TO GENERATE INCENTIVES FOR ONLINE GAMING” published Jan. 2, 2014, and is incorporated herein by reference. Rao et al. describe systems and methods for processing recommendations of online games to friends of social network. A method for processing recommendations includes identifying a gaming session of a user on an online game provider network, accessing a use profile of the user for the online games of the online game provider network, and accessing a social graph of the user to identify friends of the user and respective friend profiles from the social network. The method further includes producing a recommendation of an online game. The recommendation includes an identification of a target friend of the user and is being provided by examination of the use profile of the user and friend profiles in the social graph. The method includes providing the recommendation to the user. The recommendation also includes an offer incentive to the user to share the recommendation with the target friend.
U.S. Pat. No. 8,128,472 to Charles Clarence Darcy Lyons et al. (hereinafter, “Lyons et al.”), titled “POKER TOURNAMENT SYSTEM AND METHOD” issued Mar. 6, 2012, and is incorporated herein by reference. Lyons et al. describe a method of playing a poker style card game tournament includes providing an original table at which a plurality of players can compete in the poker style card game. An entry fee for each of the plurality of players is predetermined. The type of poker style card game in which the players will compete is predetermined as is an event outcome from which a winner is determined from the plurality of players. A mechanism is provided that allows each of the plurality of players to pay the predetermined entry fee to enter the tournament. A forum is also provided that allows each of the plurality of players to compete against one another in the predetermined poker style card game. A point-leader is identified from amongst the plurality of players based on an evaluation of the event outcome. The point-leader is advanced to one or more additional tables and is compensated based on their performance at the one or more additional tables. At least one stakeholder is also compensated based on the performance of the point-leader at the one or more additional tables.
U.S. Pat. No. 8,480,089 to Steven Jeffrey Heller (hereinafter, “Heller”), titled “MULTI-STAGE POKER GAME” issued Jul. 9, 2013, and is incorporated herein by reference. Heller describes a multi-stage poker game or tournament and a method for conducting the same comprising a first stage in which a first plurality of players buy in at a first amount and a second stage in which a second plurality of players buy in at a second, greater amount. The second stage is a continuation of the game, such that non-eliminated players from the first stage may continue playing the game, along with the second plurality of players. The latter group may start the second stage with substantially equal chip counts, but the chip counts for the former group may be unevenly distributed, e.g., in proportion or substantially equal to their chip counts at the end of the first stage. The end of the first stage or beginning of the second stage may be marked by the occurrence of a predetermined trigger, such as a predetermined average chip count being reached or percentage or number of first stage players being eliminated.
U.S. Pat. No. 8,512,117 to Jay S. Walker (hereinafter, “Walker et al.”), titled “METHODS AND APPARATUS FOR MANAGING NETWORK LINKED GAMBLING VIDEO GAMES” issued Aug. 20, 2013, and is incorporated herein by reference. Walker et al. describe methods and apparatus for team play in video games. One method includes receiving a request to initiate a gambling game for a player of a first networked machine and joining a second player of a second networked machine to a team. The method further enables transfer of currency between the first and second players of the team using the networked machines during play of the gambling game. The method debits an account of a player using the networked machine that transferred the currency and credits an account of a player that that received the currency. The method further enables wagers in the gambling game using the credited currency, and the method is executed by at least one processor.
There is a need for an improved system and method for monetizing virtual poker winnings.